Block.one CEO speaks about EOS and Bitmain

Brendan Blumer, the CEO and Founder of Block.one spoke about the EOS sale, the investors of the company and Bitmain’s upcoming ICO, during an interview with Bloomberg Markets and Finance.

EOS, one of the leading cryptocurrencies in the space, is noted to have completed the world’s biggest ICO sale which was around $4 billion. It was conducted in the month of May 2017. The Founder spoke about what the company is planning to do with the money which was raised.

Brendan said:

“… look at how token networks were distributed in the past, it was mostly through burning electricity in order to create these tokens. And so the thesis behind our token sale was to take that capital that was normally used to create tokens and then diverted back to the developers that are spawning the next generation of innovation.”

He continued to speak about their $1 billion fund for EOS VC. He said that they are investing that $1 billion along with their partners around the globe in order to get them back to the hands of the developers in order to see the outcome of this type of “capital innovation show”.

Furthermore, the Founder stated that they have laid down a roadmap which is shared with their investors. He continued to say:

“The first billion dollars of capital in the US we see the primary bulk of it is really designed to use this investment into developers building on the EOSio application itself. Yeah, the first commitment of a billion is is what we’ve made public.”

Moreover, Brendan confirmed that Peter Thiel and Jihan Wu, the Founders of Bitmain, are investors in the company. He continued to say that the blockchain technology allows people to disrupt some of the largest centralized technology platforms at present. He further added that Jihan Wu and Peter Thiel are leaders in the space. Brendan stated that they will be releasing more information on their project by the end of this year or Q1 of 2019.

Furthermore, the CEO of Block.one spoke about Bitmain’s IPO. He said

“Their businesses a little different to ours, they manufacturer hardware, they are located in Hong Kong. And I think that shows that kind of gravity that Hong Kong is pulling in terms of the industry, a lot of market leader setting up there are very free capital markets, a lot of same ideologies as blockchain itself. So we’re big supporters of the project, but very different business models.”

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